By BisNow
Bill Pulte isn’t wasting time.
Less than a week after being confirmed by the Senate to lead the Federal Housing Finance Agency, Pulte has shaken up the board of directors at Fannie Mae and Freddie Mac, replacing several members and appointing himself the chairman of both firms.
Eight Fannie Mae board members left and four new ones will be added. One of the new members is a former SpaceX employee, and six departing Freddie Mac board members will be replaced by three new appointees along with Pulte.
The staffing changes were revealed in regulatory filings with the Securities and Exchange Commission. The self-appointment atop both boards is a departure from past FHFA director’s management decisions and was described as highly unusual by Politico.
